Isle of Man-based financial services business SMP Group will acquire Jersey-based trust and corporate services provider Helm Trust Company.
The transaction is subject to regulatory approval and financial terms were not disclosed.
Helm has been delivering independent trust services for international clients for more than 25 years and is regulated by the Jersey Financial Services Commission (JFSC).
David Hudson, group chief executive of SMP Group, said: “It is an excellent fit for several reasons; Jersey is a key strategic jurisdiction in which we intend to invest heavily, Helm has developed strong networks in overseas markets we currently have limited access to, and it has very similar cultural and infrastructure expectations to the rest of our business.”
The SMP group of companies, which already has a presence in Jersey, provides trust structuring, accounting and tax, and fund services to a global client base of high net worth individuals.
Headquartered in the Isle of Man, it now has over 200 staff working in Jersey, Malta, Hong Kong, Bahamas, Cayman Islands, and Switzerland.
